Duplex with Separate
For Sale
$775,000
902 Fifth Street S, Carolina Beach, NC 28428
Two 3BR/2BA units on separate meters, with newer LVP flooring and a roof replaced in 2018.
Property Size2,462 SF
Price / SF$314.78
Days on Market162
Property Features for 902 Fifth Street S
General Information
Standard status
Active
Size
2,462 SF
Property subtype
Multi-Family
Additional Details
Gross Income
$48,000
Amenities
LVT/LVP
No
Yes
4
Electric
2
6
Blinds/Shades
Partial,Wood
Public
See Remarks
0.14
0.0
50 X 125
Vinyl Siding
Off Street,Paved
Slab
City Street,State Road
2462.0
Building Details
Year Built
1999
Tenancy
Multi
Listing Agency:
Tiffany's Beach Properties
(912) 695-0778
Listed By:
Schyler Foskey
(912) 695-0778
Source:
Baystreetrealtygroup
Added: Feb 18
Changed: Jul 30
Last Checked: Jul 30 at 8:21AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Tiffany's Beach Properties
Investment Insights
Based on property information with market context.
This duplex features two separate 3-bedroom, 2-bath units in a two-story layout, totaling 2,462 heated square feet. Each unit has LVP/LVT flooring, and the home is equipped with heating and air conditioning. The property includes an electric water heater, partial wood fencing, vinyl siding, and slab foundation construction. Parking is available off-street and paved, and the water source is public.
Built in 1999 on a 0.14-acre lot, the property is described with frontage on a city street and a state road. The roof was replaced in 2018, and the units have separate meters. The offering notes that short-term rentals are allowed.
The duplex is positioned about five blocks from beach access and the Carolina Beach Lake, supporting flexible use for a tenant mix that fits short-term rental allowances.
Built in 1999 on a 0.14-acre lot, the property is described with frontage on a city street and a state road. The roof was replaced in 2018, and the units have separate meters. The offering notes that short-term rentals are allowed.
The duplex is positioned about five blocks from beach access and the Carolina Beach Lake, supporting flexible use for a tenant mix that fits short-term rental allowances.
Key Highlights
- Two separate 3BR/2BA units totaling 2,462 heated SF
- Each unit is 1,241 heated square feet
- Roof replaced in 2018
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $36.9k | $15.00 |
| − Vacancy | −$3.5k | −$1.44 |
| EGI | $33.4k | $13.56 |
| − OpEx | −$10.0k | −$4.07 |
| NOI | $23.4k | $9.49 |
2,462 SF · lease $15.00/SF/yr · vacancy 9.59% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$333.9K
$292.2K – $389.5K
NOI $23,372 @ 7.0% cap · market cap 3.02%
Second Best
Apartment 5plus
$306.8K
$268.4K – $357.9K
NOI $21,474 @ 7.0% cap · market cap 2.77%
Theoretical Best
Office A
$799.1K
$699.2K – $932.3K
NOI $55,936 @ 7.0% cap · market cap 7.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
411
Businesses Nearby
Explore this area
Business Placement
Demographics for 28428, NC
6,848
Population
6,268
Households
1.1
Avg Household Size
51
Median Age
48%
College-Educated
98%
High-School Grad
5.2 sq mi
ZIP Area
1,317
Density / Sq Mi
$87,670
Median Household Income
$41,138
Median Earnings
$1,515
Median Rent
$490,100
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two 3BR/2BA units on separate meters, with newer LVP flooring and a roof replaced in 2018.
Where is this duplex located?
The property is located at 902 Fifth Street S Carolina Beach, NC.
What is the asking price?
The asking price for this property is $775,000.
What are key features of this property?
This property features: Two separate 3BR/2BA units totaling 2,462 heated SF; Each unit is 1,241 heated square feet; Roof replaced in 2018
